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Drilling For Jobs? Yes We Can!

In a weekly address to the nation back in March, President Obama addressed the crippling effect of gas prices on the economy, citing the creation of 'thousands' of American jobs through his renewable energy plan, and stating simply, "we can't drill our way out of this problem."

But a new report from IHS threatens that claim, and makes the prospect of 'thousands' of American jobs look paltry compared to the estimated 1.7 million created this year by implementing the safe development of unconventional means to extract oil and gas in the United States. The report also estimates that the number of jobs could grow to 3 million by the end of the decade.

So, can we drill our way to more jobs and economic prosperity? According to IHS - Yes we can!

The key lies in the aforementioned unconventional drilling techniques - such as horizontal drilling or the unnecessarily maligned hydraulic fracturing techniques - which unlock natural gas and oil trapped in the pores of dense rock formations.

These unconventional means require larger initial investments compared to their conventional counterparts, but the future payoffs are tremendous. IHS estimates that $2.1 trillion in capital will be spent on unconventional oil and gas extraction in the U.S. by the year 2035. That activity equates to 1.7 million jobs this year, 3 million by 2020, and 3.5 million by 2035.

Karen Harbert, president and chief executive officer of the energy institute, states "We've known for some time that shale energy is truly a game-changer for America - and now we can prove it."

She adds, "This new, comprehensive study demonstrates that shale energy is already contributing over $200 billion to our economy, with much more to come, if policymakers at all levels of government don't stand in the way."

The problem with such methods according to some of those policymakers however, is the perceived environmental risks involved in the techniques. Fracking of course, has long been a source of such controversy.

Energy expert Daniel Yergin seeks to allay those fears in his recent Wall Street Journal column, which outlines three major environmental considerations, and explains how he and a committee of peers have provided best practices and solutions to the Secretary of Energy regarding those considerations.

Yergin writes, "These initiatives will help to provide a safe foundation for the further development of the industry."

Furthermore, the group plans to release a state-by-state report on the benefits of shale development in November; the importance of which could be underscored through the example of New York state.

With unconventional drilling, the supply chains are long — and the ones serving the U.S. industry mostly are domestic — so investments in nconventional plays can ripple throughout the U.S. economy, even in areas without rigs and oil field workers.

For instance, New York’s financial community stands to benefit from the investments in this arena, even though a moratorium bars hydraulic fracturing and natural gas drilling in the state.

State governments and federal coffers also can expect to benefit from the activity.

Economic benefits at both the state and federal levels make such unconventional drilling techniques a desirous prospect moving forward, as the United States tries to pull itself out of the last four years of economic stagnation.

Yergin summarizes, "The rapid growth of oil and natural gas production represents a major opportunity for the U.S."

He adds, "Without these energy resources, the disappointing economic picture would look worse, and so would the jobs numbers."

Hopefully the next administration will recognize that maybe - just maybe - we can drill ourselves out of this.

Well, more jobs sounds great! But I think by the year 2035 we won't need any oil - we will effectively use alternative energy sources. So this plan is slightly exaggerated.
________________http://www.carid.com/

In a significant victory for basic law and order, a federal court in Wyoming Tuesday affirmed a basic constitutional concept: that the executive branch must comply with laws passed by Congress. Such is the power and unaccountability of the regulatory state that this counts as news.

In 1930, Congress passed the Tariff Act introduced by Sen. Reed Smoot (R-Utah) and Rep. Willis Hawley (R-Ore.). The bill raised tariffs -- or taxes paid on imports into the United States -- on more than 20,000 imported goods. Against the advice of more than 1,000 economists, President Herbert Hoover signed Smoot-Hawley into law.

Minnesota experienced a win for liberty recently when the state reformed regulations on in-home food businesses. According to the Institute for Justice, almost every state has regulations, called cottage food laws, that limit the sale of food out of the home. However, until last month Minnesota was one of the strictest states, allowing many bakers to sell their products only at farmers’ markets and events, and capping the amount they could earn annually to $5,000.

Be sure to check out this commentary in Investor’s Business Daily written by Harry Alford, president and CEO of the National Black Chamber of Commerce, titled, “EPA Clean Power Plan Will Hit Blacks And Hispanics Hardest.” He discusses how Obama’s war on energy is disproportionately hurting minority communities.

Americans already face a $1.8 trillion regulatory burden. These heavy costs are passed on by businesses to consumers, who spend almost a quarter of their annual income complying with regulations often approved executive-level agencies, which have effectively become the fourth branch of the federal government.

American Energy to the Rescue
Americans want a robust economy with upper mobility. Increasingly, they realize the policies and the arrogance of Obama, Pelosi, and Reid have severely retarded our economic growth.

My name is Mary Allison Page and I live in Gibsonville, North Carolina. This year, I will be a rising sophomore at Western Alamance High School. On Wednesday morning, I addressed the North Carolina Mining and Energy Commission to express my support for hydraulic fracturing in North Carolina. I attended the hearing with FreedomWorks activists from all across North Carolina.

This morning I used Lyft to get to work. My driver conveniently picked me up in a nice, clean, air-conditioned car all the way out in Falls Church, VA (30 minutes away from DC), and he drove me to the Capitol for just $25.

Despite the fact that the vast majority of black voters are Democrats and support President Obama, there’s a growing anti-establishment, anti-Democrat and anti-Obama trend that’s percolating in the black community.